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Purpose

Loan Amount

Occupation

Property Finalized
Yes
No

Property Address

Possession In

City of Property

Property Value

Monthly Income

Co-applicant (if any)

Co-applicants Monthly Income

Preferred Banks

Any 5

INDIABULLS

ICICI BANK

HDFC

AXIS BANK

KOTAK BANK

DHFL

STAN CHART

HSBC

CITIBANK

RELIANCE

IDBI BANK

Name (as per PAN Card)

Email

Mobile

Residential Status

Date Of Birth:

City

Locality/Area

Locality/Area

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Tax exemption on loan repayment for a plot

Tax exemption on loan repayment for a plot is not available

Apnaloan.com Research Bureau

10 Aug 2007

I am taking a loan to buy a plot of land. I intend to keep the plot for about 5 years and then sell it. What tax benefits are available on the loan repayments?

Would the answer be any different if I began construction of a house property on the plot at a later date rather than selling the bare plot as such?

No tax benefits are available for repayment of a loan taken to buy a barren plot of land.

In case you begin construction of house property at a later date, the interest payable on plot loans will be treated as interest payable during construction period.